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Demand Destruction

All articles tagged with #demand destruction

Oil prices stay muted as demand destruction defies expectations
business1 month ago

Oil prices stay muted as demand destruction defies expectations

Oil hasn’t surged despite about 11.1 million barrels per day of supply lost since late February and inventories at records lows, because demand has fallen faster than supply. Brent trades around $101 and WTI above $92, but roughly $20 below wartime highs. JPMorgan strategists say the market’s move is driven by unprecedented demand destruction, and the IEA now forecasts global oil demand to fall by about 1 million bpd this year, aided by weak Southeast Asia activity and China’s lower imports; the sustainability and duration of the demand drop remain unclear as the market rebalances.

via Yahoo Finance|
#business#demand-destruction#energy-markets
Oil Shock Looms: Iran Conflict Could Redraw the U.S. Economic Map
economy3 months ago

Oil Shock Looms: Iran Conflict Could Redraw the U.S. Economic Map

Analysts warn that an Iran-led oil supply shock could trigger broad demand destruction in the U.S.—rising energy costs, squeezed budgets, weaker consumer spending, and slower growth—as the Strait of Hormuz disruption drags on. While inflation could stay elevated, the actual damage depends on how long the conflict lasts and how quickly ships move freely again. The scenario could also spur longer‑term shifts—more remote work, more EV adoption, and adjustments in supply chains—if high prices persist or prices remain volatile.

via CNN|
#demand-destruction#economy#inflation
Oil Outlook Raised Again as Middle East Shock Tightens Markets
energy4 months ago

Oil Outlook Raised Again as Middle East Shock Tightens Markets

Goldman Sachs again lifts its oil-price outlook, forecasting Brent around $90/bbl and WTI about $83/bbl in Q4, with current trading near $106.68/bbl Brent and $95.35/bbl WTI as Iran–U.S. talks stall. The bank warns the Middle East supply shock is curbing demand, expecting global demand to fall by roughly 1.7 million bpd in the current quarter and about 100,000 bpd in 2026 versus 2025, and estimating 14.5 million bpd of lost Middle East production. ING analysts likewise see a tightening market and a roughly 13 mbpd shortfall that will push prices higher, while noting that sustained inventory draws could intensify demand destruction if the shock lasts longer.

via Crude Oil Prices Today | OilPrice.com|
#brent-crude#demand-destruction#energy
Oil Tops $100 as Iran War Fears Grow, Threatening Global Demand
economy5 months ago

Oil Tops $100 as Iran War Fears Grow, Threatening Global Demand

The U.S. is preparing for a potential ground war in Iran to reopen the Strait of Hormuz, and oil remains above $100 a barrel, threatening global demand. Analysts warn that sustained high prices could trigger 'demand destruction'—reducing jet fuel use, travel, and other activity—with early signs in Asia; meanwhile, securing Hormuz remains logistically and financially daunting for carriers and policymakers, keeping markets on edge.

via Fortune|
#demand-destruction#economy#energy
energy2 years ago

Global Oil Prices Plummet as Demand Concerns Intensify

Oil prices dropped over 4% as concerns about "demand destruction" and weak China exports highlighted a slowdown in global demand. China's exports fell for the sixth consecutive month, while imports rose. Daily price fluctuations of more than 2% have become common since the recent conflict between Hamas and Israel, keeping oil futures volatile. The market is currently more focused on demand concerns than escalating war tensions. Moscow and Saudi Arabia have reaffirmed their voluntary production cuts, but recent data suggests that Russia's crude exports are at a four-month high, potentially indicating non-compliance with the cuts. OPEC+ is set to meet later this month, where Saudi Arabia and Russia may decide to extend their production curbs into next year.

via Yahoo Finance|
#china-exports#demand-destruction#energy
Oil Market Tensions Persist as OPEC+ Holds Firm on Production Cuts
energy2 years ago

Oil Market Tensions Persist as OPEC+ Holds Firm on Production Cuts

The OPEC+ group is not expected to ease the ongoing production cuts during their meeting this week, despite the tightening oil market and concerns about demand destruction if prices remain high. Saudi Arabia, the largest crude oil exporter, has extended its extra 1 million bpd cut until the end of the year, contributing to the recent rally in oil prices. Some analysts suggest that Saudi Arabia may start easing the cuts sooner than expected to avoid overheating the market.

via OilPrice.com|
#demand-destruction#energy#oil-market
Oil Markets Experience Volatility Amidst Economic Uncertainty.
energy3 years ago

Oil Markets Experience Volatility Amidst Economic Uncertainty.

Oil prices have been capped by fears of demand destruction due to economic woes despite OPEC+ announcing a production cut. Diesel prices have been shrinking for the past six months due to cyclical sensitivity. The Iraqi federal government and Kurdistan’s regional authorities have signed a temporary deal to resume oil exports through Turkey. The French court has ruled against TotalEnergies’ halted refinery. US oil major ExxonMobil will exit its self-operated license blocks in offshore Brazil after its exploration drilling program failed to yield any commercial discovery.

via OilPrice.com|
#demand-destruction#diesel-prices#energy